Hello long-time suffering fellow shareholders,(Very) rare...

Hello long-time suffering fellow shareholders,

(Very) rare poster, (very) long-term holder here. I share all your frustrations so bear with me. I've discovered a few peculiar things of late.

1. As per FAR's latest annual report, both PT and TW are on 12-month termination notice periods by the company. The timing of their 'departure' is interesting. Assuming both PT and TW have been terminated by FAR, their departure effectively two months before the end of the current financial year looks to be an astute tax move. Get paid 2 months now and defer the bulk of the payout (and huge tax bill) into the next financial year. Makes sense, doesn't it?

2. It's very likely TW will be paid out his $600k p.a. salary for being 'terminated' from his executive position on the board, despite the fact that he will continue to receive a six-figure fee for retaining a NED role on the BoD. Talk about triple-dipping: being paid salary of $600k p.a. then being paid out $600k as a golden handshake and then still continue receiving +100k p.a. in fees for being demoted back to NED. Anyone fancy sending FAR an email to confirm this?

3. In the announcement outlining TW returning to his previous role as NED, the chairman says, and I quote "The FAR Board is continuing to reduce the size of the executive team as part of the restructuring of the business that commenced in 2020." is somewhat untrue. I refer you to page 22 of the Annual Report. Some of you may have missed the fine print but Peter Nicholls, FAR's exploration manager who has exclusively consulted to FAR since 2005, was surprisingly gifted an employment contract on, yes - you guessed it - 1 July 2020 at the princely rate of over $500k p.a. (how's my USD to AUD conversion maths?). Reducing the size of the executive team in 2020? I think not, Mr Chairman.

Now ask yourself this. Why does a company suddenly employ a person who's been contracting to them for over 15 years? Hint: it has something to do with the termination notice period. That's right, a 12-month $500k golden handshake payout to Mr PN when the time comes. One can only imagine FAR was very certain it would be taken over and wanted to look after all its senior executive staff, including long-term contractors. A final hurrah for all, perhaps?

Anyway, this is all very circumstantial.
AIMHO and DYOR.